Living and working in Palm Beach Gardens, Florida which is located in the Northern end of Palm Beach County really allows me to meet most of my clients. Whether my clients are in Miami, Ft. Lauderdale or even as far North as Orlando and would like to meet with me about refinancing the current mortgage or purchasing a new home.
In the current Mortgage Industry, Borrowers really need the help and advice of a true mortgage professional. Know longer does size matter of the Mortgage Company just look at HomeBanc for example. When a borrower is looking to work with a Mortgage Professional they must realize that it is know longer like going to a Burger King drive through and getting it their way. They really must work with the Mortgage Professional in a two way street.
Below are some suggestions that a Borrower should ask and do when working with a Mortgage Professional:
- When given a task from your Mortgage Professional do it in a timely manner. (If required your w-2's get them quickly) In many cases time is of the essence.
- Let the Mortgage Person know from the beginning what your expectations are. (I always ask that from my borrowers) For example: How often do you want an update? Daily, When someone touches your File, Or only if you need something?
- If you are very busy during the day will the Mortgage Professional be available to speak with you after hours?
- Don't tell a lie to your Mortgage Professional and expect them to cover for you.. You are asking them to commit Mortgage Fraud if you do.
- Ask questions of your Mortgage Professional. Communication is key
Remember gone are the days of No Credit, Bad Credit and can't prove your income = 100% Financing with no problems. Most loans today (in order for the lowest rate) will require some sort of Documentation.
In closing, a good Mortgage Professionals should go through with you prior to an application what you are looking for and ask you several questions on your wants and needs.
For More Information: MyFavoriteMortgage Palm Beach Gardens Mortgage Advice
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Just funded this am for transaction (the meanie other agent) and it will record tomorrow am. WooHoo! Yup! Documentation (this one was FHA so needed a bunch anyway) but as usual...good clients...great loan officer...communication and the loan part was smooth. We'll skip the other part. It's hours away....woohoo! (oh...did that already ....hehe)
Matt,
Great post!! I just heard on the Radio, The Newest scam. This Mortgage Company said we can get you the best deal, because our Brokers are Not on Commision, As if the Scams that were pulled in the past few Years weren't enough.. I thought you may get a kick out of that.
Tom Weiss
When somebody asks me how soon they can close, I always tell them a lot if depends on them. Good post for borrowers out there. Well done Matt.
Sally, Go ahead a WOOHOO again.. You deserve it..
Tom, Thank you I heard the same thing. So I guess people work for free...:-)
Jason, Thank you.. You really speak the gospel
then you get a REALTOR® like me - that writes contracts with 3 to 4 weeks closing - don't you just hate me.
Matthew- Great information! Working with your mortgage professional will help the loan close. You are the mortgage professional of Palm Beach County Florida!
Thesa, No problem... You are an Awesome Realtor
Kim, <blush>... Thank you :-)
Matt,
Excellent bunch of questions..I might ask you a few more just to bust your chops:) You should be answering these questions as the consumer should know more about who they are working with.
Neal, I agree the consumer should know who they are working with.